B.C. Liberal finance critics Shirley Bond and Tracy Redies respond to first NDP budget. (Black Press)

BC BUDGET: Liberals blast ‘tax and spend’ plan

Payroll tax, carbon tax increase threaten growth, opposition critics say

The NDP minority government will keep B.C. finances in the black for the next three years, thanks to strong economic growth, Finance Minister Carole James says.

But B.C. Liberal finance critics Shirley Bond and Tracy Redies says they shouldn’t count on that growth as they add to the business tax burden, with a payroll tax to replace Medical Services Plan revenues and a carbon tax that is rising and no longer revenue neutral.

“This is a government that continues to have a massive spending promises and very little attention paid to revenue generation in the province,” Bond said. “If you can imagine adding a payroll tax, a carbon tax, the list of taxes is lengthy, on the very people that the NDP government are assuming will grow the economy.”

Redies said the NDP’s first budget predicts an 11 per cent increase in personal income tax revenue in the next year, equivalent to $1,000 for each family.

“On the resource side, revenues are actually predicted to drop in our core industries,” Redies said. “That should be astounding for British Columbians, that this government is predicting resource revenues, forestry, mines to decrease over the next three years.”

RELATED: Payroll tax to replace medical premiums

James’ first full budget predicts a surplus of $219 million in the fiscal year starting April 1, with surpluses of more than $280 million in the next two years. That is despite what the government describes as record investments in housing and child care and another large increase in health care spending.

The latest projections from the finance ministry show increased taxation and resource revenues this year, offset by $884 million less revenue from ICBC and $183 million more than forecast in wildfire costs for 2017-18.

Economic growth is projected to be 2.3 per cent in 2018, up from 2.1 per cent estimated last September.

Just Posted

Four people sent to hospital in crash near Qualicum Beach

Fire crews worked alongside paramedics: Dashwood fire dept.

Sisters share exhibit in Qualicum Beach

From gnomes and fairytales to trees and texture, but plenty of connections between pair

Parksville council disagrees over parkland, payment

Developer planned to provide 0.5 ha. of land

Rodeo returns to Coombs for fourth year

Events include saddle, bareback riding and barrel racing

Model trains, historical exhibits offered at Parksville museum’s Railway Days

The family-friendly event takes place on Aug. 17 and 18 and is by donation

VIDEO: Jazz greats sound off in Parksville

Concert featured Phil Dwyer music academy faculty

Authorities mull evacuation order for Zeballos

Smoke billowed from the steep hillsides of Zeballos on Friday evening, as… Continue reading

Safeway union urgest rejection of mediator recommendations

Says mediator asks for too many concessions

Fire chases B.C. crews out of their own camp

Crews in Burns Lake had to leave after a wildfire reportedly overtook their sleeping quarters

To address peacock problem, B.C. city moves ahead on trapping plan

Surrey’s new bylaw focuses on ensuring people no longer feed the birds, ahead of relocation

Hospitals to see ‘delays’ in care after losing Saudi students, health group says

About 1,000 Saudi residents called back to kingdom after suspending diplomatic relations with Canada

Bernier diatribe against ‘extreme multiculturalism’ boosts Liberal coffers

Party spokesperson Braeden Caley says online donations doubled, social media engagement quadrupled

‘Disjointed’ system hinders British Columbia First Nations in wildfire fight

More than 550 wildfires were burning in B.C. and crews were bracing for wind and dry lightning

Castlegar bridge designed by architect of collapsed Italian bridge

Riccardo Morandi designed the Kinnaird Bridge, which is part of Highway 3.

Most Read